Earth is worth £3,000 trillion, according to an astrophysicist who claims to have created a formula to calculate the value of a planet.

The astrophysicist, Greg Laughlin, came up with the figure by calculating the sum of the planet's age, size, temperature , mass and other vital statistics – and Earth came out as the most expensive.

"The formula makes you realize just how precious Earth is and I hope it will help us as a society safeguard what we have," he said.

Earth is worth £3,000 trillion, according to an astrophysicist who claims to have created a formula to calculate the value of a planet.

The astrophysicist, Greg Laughlin, came up with the figure by calculating the sum of the planet's age, size, temperature , mass and other vital statistics – and Earth came out as the most expensive.

"The formula makes you realize just how precious Earth is and I hope it will help us as a society safeguard what we have," he said.

Mars was only valued at £10,000, while Venus is said to be worth less than a penny. There are about 1,235 other planets in the universe, most of which weren't given a high price tag because of their inhospitable climates.

For most of us, our home is our single largest and most important investment. Many of us have poured thousands of dollars and countless hours into maintaining, improving and (hopefully) paying off our homes. Many people own their homes free of any mortgage. These assets are pure equity. Certainly its worthwhile to invest 15 minutes a year to be sure it's properly insured.

Thankfully, the insurance company offers you a perfect reminder and opportunity in sending out your annual renewal statement. Even if your insurance is paid by your mortgage company as part of your impound account, the insurance company still mails you a statement of renewal every year to update you with your current coverage limits and deductible.

Here's a few important steps you can take to be sure that HOME SWEET HOME is properly protected.

1. Check the basics. Check your name, address and any other description of the insured property. Make sure there's been no change of vesting or ownership that needs to be updated. Check your address to be sure no numbers are transposed.

2. Check the mortgagee clause. Here's where you can be sure that the current mortagee on your home is listed correctly. Check the lender, address and your loan number. Be sure there's no old information there. Maybe you had a HELOC (Home Equity Line of Credit) or a second mortgage that no longer applies. Be sure to get them removed.

HEADS UP: Whenever you have a significant claim, the mortgage company will be one of the payees on your claim settlement check. Just that alone can be an inconvenience. But it becomes a major hassle when one of the institutions listed no longer has a vested interest in your home. The insurance company is bound by contract to include the mortgage company on all settlement checks beyond a stated threshold.

*3. Check the coverage on your home (dwelling or building). This is without question the single most important coverage to examine, consider and adjust whenever necessary. Having been an agent during the two raging firestorms in San Diego, CA in this decade, I can tell you that underinsured homes are just NO FUN! Two of my clients lost their homes in the 2003 fires and fortunately they were both adequately insured. (we call all our homeowner clients once a year to review their coverages and suggest improvements and adjustments) But I can tell you that there were literally hundreds of people in the area that were not so fortunate. Many were underinsured by over $100,000! Contractors were giving rebuilding bids on homes for $400,000 with insurance policies with limits less than $300,000. See if that doesn't tweak your financial well-being just a little. Here's the solution.

Get an accurate rendering of the square footage of your home. Check county records, take a look at zillow.com, call your favorite Realtor, or get a tape measure and do your thing. Usually you don't include the garage in this calculation. Once you get your square footage, then you need to determine the building cost per square foot in your area for a home like yours. Call a local contractor for a quick estimate or you can call your insurance agent. Average costs in San Diego run about $200 per square foot. With that, a 2000 square foot would take about $400,000 to rebuild. Custom homes can be significantlly more. For a more complete discussion of this, check out: How Much Homeowners Insurance Do You REALLY Need?

Your contents coverage is usually 75% of the amount you have on your home. For example, if you have $400,000 on your home, you'll have an additional $300,000 to cover your personal property (furniture, clothing, dishes, TV, collections, shoes, tools, etc) Usually this is enough, but think through it anyway. If you have antiques, art, collections of any kind then you may need more. Ask your agent for help if you need to.

4. Look at your Personal Liability Coverage. This is the coverage you need when you get sued. Little Johnny runs across your front yard and trips on one of your sprinklers and ruins his chances to become America's Next Top Model and his parents sue your for $250,000. Make sure you don't scrimp here. It's not too expensive to get $500,000 or even $1 Million of liability coverage. If you have $100,000 or less, you could be setting yourself up for a mess just waiting to happen. Put a really big checkbook between your assets and someone who sees an injury as a lifetime paycheck. You might even consider a Liability Umbrella.

5. Check your 'special limits'. This is a REALLY BROAD subject that I just can't do justice to here in this post. Simply stated, there's limits on many things such as cash, computers, cameras, jewelry, furs, goldware, silverware, tools, etc. Call your company and ask for a review. You can increase many of these limits for just a few dollars a year. Sometimes the available increase isn't enough. That's the perfect time to consider a Personal Articles Floater (or it's called many different names) It's a policy that's designed to place stated amounts of coverage on many items from jewelry, business tools, iPods, hearing aids, cameras, musical instruments and on and on. If you have more than 'the average Joe' of ANYTHING, then check this out FOR SURE!

6. Check your deductible! This can be a tremendous cost-control tool in your insurance spending. Simply stated: The larger your deductible, the greater your savings. Usually you can save close to $100 per year just by going from a $500 deductible to $1000. Pick the largest number you can stand without losing sleep at night and ask your agent or company the savings you'd realize by changing. If you have a $250 or smaller deductible, it's definitely time to change it UP! Keep in mind that you usually hit a point of 'diminishing returns' once you get to $4000 or more. This means that you'll save less and less for each additional $1000 you choose. It might make sense to go from $1000 to $2000 if you save $85 a year by doing so, but not from $5000 to $6000 if you only save another $21 by making that jump.

Monitoring your insurance costs and coverages can result in a lot of savings AND peace of mind. Be sure you keep notes and file your thoughts and changes from year to year. These recoreds will make your annual call quicker and easier each year.

Unfortunately, the “Rabbit’s Hole” Best Actress nominee did not put her best foot forward in an Asian-inspired embroidered Christian Dior Spring 2009 Couture gown, which sort of resembled a napkin. The dress was somewhat saved by her vintage Fred Leighton diamond choker.

Natalie PortmanGrade: A

The “Black Swan” Best Actress winner showcased her burgeoning baby bump in a plum, off-the-shoulder Rodarte gown. Tiffany & Co. tassel earrings set off her dress, and though pregnant, she dared to wear Jimmy Choo heels for her walk down the red carpet.

The “Access Hollywood” correspondent played it safe in a black velvet Johanna Johnson one-sleeved number, which she set off with an attention-grabbing piece of bling.

Mandy MooreGrade: C

The singer — who performed her song from “Tangled” — blended in with the crowd in her nude, crystal-encrusted Monique Lhuillier gown.

Justin TimberlakeGrade: B+

The singer-turned-movie-star cleaned up nicely in his Tom Ford tux.

Julia OrmondGrade: C

The British “Temple Grandin” actress graced the red carpet in a strapless lace gown.

Josh BrolinGrade: B-

The “No Country for Old Men” star bucked the black trend and opted for a navy three-piece suit.

Jesse EisenbergGrade: B

Timberlake’s “Social Network” co-star and Best Actor nominee dressed for the occasion in a Band of Outsiders suit.

Jeremy RennerGrade: A-

The dapper Best Supporting Actor nominee (“The Town”) gave a salute to style on the Academy Awards red carpet.

Jennifer LawrenceGrade: A

The “Winter’s Bone” Best Actress nominee sizzled in a simple-yet-sexy Calvin Klein creation, long flowing locks, and minimal jewelry provided by Chopard .

Jennifer HudsonGrade: A

JHud strutted her fab new physique in a tangerine va-va-va-voom Versace halter gown.

Javier Bardem and Penelope CruzGrade: A

“Biutiful’s” Best Actor nominee donned Gucci for Hollywood’s biggest night, and was joined on the red carpet by his beautiful wife Penelope, who rocked a dazzling red L’Wren Scott gown. Can you believe she only gave birth to their son one month ago?

Jackie WeaverGrade: B-

The Best Supporting Actress nominee for “Animal Kingdom” sparkled in a bejeweled gown designed by fellow Aussie Collette Dinnigan, which she paired with metallic clutch and a smile.

Hugh JackmanGrade: B+

The Aussie hunk switched things up with a double-breasted Ferragamo tux, while his wife Deborra-Lee suffered a fashion flop thanks to her black-and-white feathery wrap.

Hilary SwankGrade: B

Although the two-time Oscar winner looked stunning in her strapless Gucci gown, we feel like we’ve seen this feathered-metallic combo a million times before.

Helena Bonham CarterGrade: B-

The always eccentric Best Supporting Actress nominee for “The King’s Speech” surprised us with a relatively conservative black bustier ensemble created by “Alice in Wonderland” costume designer Colleen Atwood. Bonham Carter, who accessorized with a fan-shaped clutch, said, “I thought it would be nice to celebrate film instead of fashion.”

Helen MirrenGrade: A-

The Dame reigned supreme in a gunmetal gray Vivienne Westwood gown, Cartier diamonds, and a short ‘do. Can you believe she’s 65?

Halle BerryGrade: A

Halle was flawless as usual in a crystal encrusted Marchesa gown and a spiky cropped coif.

Hailee SteinfeldGrade: A

The Best Supporting Actress nominee picked the perfect pale pink Marchesa frock for her first trip down the Oscars red carpet. The 14-year-old “True Grit” star even helped Marchesa design the one-of-a-kind creation!

The Florence and the Machine lead singer looked more appropriately dressed to front a band called Florence and the Frontier in her frumpy, tiered Valentino number.

Erin AndrewsGrade: B

All eyes were on ESPN sportscaster/”Dancing With the Stars” alum thanks to her silver Kaufman Franco dress.

Donald and Melania TrumpGrade: B-

The Donald rocked his signature coif, while wife Melania made the scene in a Dolce & Gabbana gown.

Daphne ZunigaGrade: C+

While we were surprised to see the “One Tree Hill” star on the Oscars red carpet, she was apparently there to support her designer friend Nicole Miller. Of course, Daphne wore one of Miller’s gowns to the show.

Dale DickeyGrade: B

The “Winter’s Bone” star, who took home the Best Supporting Actress Independent Spirit Award on Saturday night, sparkled in a blue dress that accentuated her fit figure.

Colin FirthGrade: A

“The King’s Speech” Best Actor winner, who was accompanied by his beautiful wife Livia, was debonnaire in his Tom Ford suit.

Christian BaleGrade: C

Bale, who took home the Best Supporting Actor Oscar for his performance in “The Fighter,” accessorized his black-on-black Gucci tux with a bushy ginger beard and his stunning wife Sibi.

Cheryl HinesGrade: B

The “Curb Your Enthusiasm” star stepped out in a shimmery black sweetheart gown, which she accessorized with a glam diamond necklace and a casual updo.

Celine DionGrade: B+

Although Celine Dion just gave birth to twin boys last October, you’d never know it! The “My Heart Will Go On” songstress looked svelte and sleek in Armani Prive. Loose locks and a Van Cleef & Arpels necklace completed her ensemble.

Cate BlanchettGrade: B-

The always fashion-forward actress donned a pale lavender silk chiffon Givenchy Couture gown, which she paired with Van Cleef & Arpels jewels. Do you think the stylish star pulled off her outside-of-the-box look?

Busy PhilippsGrade: B-

The “Cougar Town” star got all glammed up in a black fishtail gown to attend the Academy Awards as her best friend Michelle Williams’ date. She’s come a long way from “Freaks and Geeks,” eh?

Annette BeningGrade: A

“The Kids Are All Right” Best Actress nominee might have missed out on the big prize, but scored top marks on the red carpet thanks to her sparkling Art Deco gown by Naeem Khan.

Anne HathawayGrade: B

The Oscars co-host struck a pose in a red vintage Valentino bustle gown. Do you think the ruffled rose detailing is frumpy … or fabulous?

Andrew GarfieldGrade: B+

The star of the upcoming “Spider-Man” reboot was ready for action in his Louis Vuitton tux.